Citigroup Initiates Coverage on Knight-Swift Transportation (NYSE:KNX)

Citigroup assumed coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $55.00 target price on the transportation company’s stock.

Other research analysts have also issued reports about the company. StockNews.com raised Knight-Swift Transportation to a sell rating in a research report on Thursday, July 25th. Barclays raised their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an overweight rating in a report on Tuesday, August 20th. Evercore ISI dropped their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an in-line rating on the stock in a report on Thursday, October 3rd. Raymond James reduced their target price on Knight-Swift Transportation from $58.00 to $57.00 and set a strong-buy rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $55.81.

Knight-Swift Transportation Trading Up 1.5 %

Shares of KNX stock opened at $50.90 on Wednesday. The stock has a 50-day moving average of $52.22 and a 200-day moving average of $50.49. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 75.97, a PEG ratio of 1.44 and a beta of 0.92. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Knight-Swift Transportation will post 1.08 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

Insider Buying and Selling

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the transaction, the director now owns 17,648 shares of the company’s stock, valued at $892,459.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the transaction, the director now directly owns 17,648 shares in the company, valued at $892,459.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors and hedge funds have recently bought and sold shares of KNX. Rise Advisors LLC purchased a new stake in Knight-Swift Transportation in the first quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in shares of Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc lifted its stake in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares during the period. Finally, Blue Trust Inc. boosted its position in Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.